AIRFREIGHT demand was flat in the third quarter of 2012 according to freight giant Kuehne + Nagel.
However, according to its latest figures the European logistics firm shifted more cargo by air, following acquisitions in New Zealand and Latin America.
Kuehne + Nagel increased its airfreight tonnage by three per cent in the third quarter and by two per cent in the first nine months of 2012 according to figures released today.
Kuehne + Nagel says it has successfully tapped into business opportunities such as Asian regional markets and South and North American export markets, which bosses said had performed well.
Despite these positive trends leaving the company’s gross profit margin improved, earnings were hit by taxes and interest leaving the operational profit down by 10 per cent.